РЕФОРМА БУЏЕТСКОГ СИСТЕМА СРБИЈЕ
THE BUDGETARY SYSTEM REFORM IN THE REPUBLIC OF SERBIA

Summary/Abstract: The intrinsic reform of the Serbian budgetary system was initiated by adopting the Budget System Act in 2002. This Act, along with other subsequently adopted relevant financial acts, created the necessary regulatory: framework for instituting changes in the field of budgeting The, primary goal of , these activities has been the rationalization of public, expenditures by introducing contemporary budget categories and institutions. The secondary goals have been aimed at achieving tile: microeconomic stability, providing efficient public services and adapting to. the international budgeting standards. A successful reform of the budget system calls for a holistic approach, to all budgetary segments including planning; drafting, adoption, implementation and control of the budgetary revenues and expenditures. In the course of the implementation of the new budgetary regulation in the past few years, there have been considerable problems in managing the budgetary system. The instability of the system has also been demonstrated through the rebalance of the budget and introducing provisional; financing. Given the unsettled constitutional, political and, economic circumstances, the National Assembly and the Government have kept struggling over the control of the budget The predominance of the executive branch of government over the legislative authority has been demonstrated only recently when the provisional financing; was prolonged without legal title. We, have to bear in mind that the effective management of the budgetary process calls for a carefully balanced distribution: of responsibility, between the two institutions and a clearly determined clearly determined long-term strategy to accomplish socially eligible goals in the sphere of public finances.

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